Great Traders and Speculators

Some of the most famous names in markets made their fortunes trading, not buying and holding. Here are Jesse Livermore, George Soros, Paul Tudor Jones and others, and what their stories teach.

Jesse Livermore

Jesse Livermore, the model for the classic book “Reminiscences of a Stock Operator” (1923), made and lost several fortunes. He reportedly made about $100 million shorting stocks during the 1929 crash. Yet he went bankrupt more than once when he broke his own rules on leverage and risk. His story shows that great insight without discipline is not enough.

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